At a Glance
- Tasks: Manage delegated authority arrangements and enhance operational efficiency using technology and AI.
- Company: Dynamic insurance firm in London with a focus on innovation.
- Benefits: Competitive salary, career growth, and opportunities to work with cutting-edge technology.
- Other info: Collaborative environment with opportunities to learn and grow.
- Why this job: Join a forward-thinking team and make a real impact in the insurance industry.
- Qualifications: Experience in insurance or tech, strong analytical skills, and a passion for AI.
The predicted salary is between 45000 - 55000 £ per year.
We are looking for a proficient and dynamic individual who ideally has an understanding of the delegated authority landscape, to join our team and be responsible for the ongoing management of our delegated authority arrangements. The role requires a diligent, organised, and detail-oriented individual, who can manage a varied workload, and proactively engage and build relationships with key stakeholders to ensure processes and timelines are adhered to. Candidates may bring experience from a variety of backgrounds, including insurance, technology, data, or AI-enabled business functions. We welcome individuals with a strong interest in applying technology and emerging AI tools to improve processes, reporting, data analysis, and stakeholder engagement. The successful candidate will be encouraged to contribute ideas that enhance operational efficiency and support the continued evolution of the Delegated Authority Management function.
Key Responsibilities
- Working under moderate direct supervision, execute the LSM due diligence, external audit processes and Lloyd’s approval processes for delegated authority relationships. This includes the review of binding authority documentation and ensuring compliance with LSM’s risk and compliance frameworks before the line is underwritten.
- Work with Underwriting, Claims, Compliance, and other key stakeholders to ensure LSM delegated authority processes are fully understood and adopted, escalating queries when required.
- Maintain a database of all current lead and follow binding authority contracts and DCAs, and ensure records are properly recorded on IT systems.
- Maintain records of all due diligence and audit activity and follow up requirements, including on relevant IT systems.
- Record breaches and track mitigating action.
- Monitor and review of Lloyd’s DCOM records for all lead binding authority agreements.
- Contribute to the review and design of Delegated Authority Management policies and procedures and contribute to cross-team projects on behalf of Delegated Authority Management.
- Analyse Coverholder MI and report findings and trends back through the required channels.
- Provide reporting updates for various audiences, primarily for LSM’s Delegated Authority Forum.
- Represent the Delegated Authority Management Team at both internal and external meetings where required, e.g. divisional underwriting meetings, market meetings etc.
- Support the identification and implementation of opportunities to improve Delegated Authority Management processes through the use of technology, automation and AI-enabled tools, including contributing to the development and testing of AI assistants to enhance operational efficiency and stakeholder experience.
- Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity.
- Understand your responsibilities relating to all regulatory and internal requirements, and proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules, Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.
Skills and Experience
- Previous experience working in a Delegated Authority Management Team is desirable but not essential.
- The ability to work under limited supervision and escalate queries as required.
- Strong analytical and problem-solving skills, with the ability to interpret data, identify trends, and present findings to stakeholders.
- Ideally, a good understanding of digital technologies and emerging AI tools, with an interest in how they can be applied to improve business processes and operational efficiency.
- Curiosity and willingness to learn new technologies, including AI assistants and automation tools, and help identify opportunities for their effective use within the business.
- Excellent attention to detail combined with a proactive and continuous improvement mindset.
- Working knowledge of relevant regulatory developments in the field.
- Experience in stakeholder management and working with different departments to ensure adherence to processes and procedures.
Delegated Authority Account Manager employer: Liberty Specialty Markets
Liberty Specialty Markets is an exceptional employer, offering a dynamic work environment in the heart of London where innovation and collaboration thrive. Employees benefit from comprehensive professional development opportunities, a strong emphasis on data integrity, and a culture that values analytical excellence, making it an ideal place for those looking to grow their careers in catastrophe risk analysis.
StudySmarter Expert Advice🤫
We think this is how you could land Delegated Authority Account Manager
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Liberty Specialty Markets). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Liberty Specialty Markets. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Delegated Authority Account Manager
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Liberty Specialty Markets.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Liberty Specialty Markets. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Liberty Specialty Markets
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Liberty Specialty Markets to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Liberty Specialty Markets, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Liberty Specialty Markets's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
